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IPOs in June: From Arohan Fin to Shyam Metalics to Sona Comstar, these 7 firms aim to raise over Rs 10,000 crore. LIC IPO soon!
At least seven companies such as Arohan Financial, Shyam Metalics, India Pesticides, Sona Comstar et al have lined up their Initial public offerings (IPOs) in June, aiming to raise cumulative capital of over Rs 10,000 crore. The momentum in IPO activity comes after a dull two-month period as the second wave of the COVID-19 pandemic gripped the country. The last IPO to hit the domestic market was the Rs 2,500-crore offering by real estate major Macrotech Developers in April. Over 25 companies have already hit the initial public offering market in 2021 and a number of others have filed draft papers with the market regulator Sebi. Last year, 14 companies got listed on the stock exchange, raising over Rs 25,000 crore. Here’s the list of these companies and their IPO plans in June:
Sona Comstar: The firm plans to raise Rs 5,500 crore via its IPO that opens on June 14. The issue has a price band of Rs 285-291 per share and will close on June 16. It is an automotive component maker that is backed by private equity player Blackstone. Blackstone will sell half of its holding and will own a little over 33 percent in Sona Comstar. This shall be the second big IPO by Blackstone entity this year after mortgage financing company Aadhar Housing finance filed its DRHP with SEBI for a Rs 7300 crore IPO.
Shyam Metalics: Steelmaker Shyam Metalics will launch its initial public offering next week. The firm has reduced its IPO size from Rs 1,107 crore to Rs 909 crore currently. Promoters have decided to offload shares worth Rs 252 crore as against Rs 452 crore planned earlier. The company has priced its IPO between Rs 303 to 306 per share. The IPO will remain open between June 14 and June 16.
Navoday Enterprises: Marketing and event management company Navoday is set to open its initial public offering on 14 June with a price band fixed at Rs 20 apiece. The issue will close on 17 June and the firm aims to raise nearly Rs 46.08 crore. The proceeds from the issue will be used for working capital requirements and general corporate purposes.
India Pesticides: The firm has filed for a DHRP with Sebi to raise around Rs 800 crore via an IPO. The issue, which is likely to open in June 2021, will comprise of a fundraise via fresh issuance of shares worth Rs 100 crore and an OFS by promoters for Rs 700 crore. The company proposes to utilise the proceeds towards funding the working capital requirement and general corporate purposes.
Dodla Dairy: Hyderabad-based dairy product manufacturing company is expected to come up with its Rs 800 crore IPO in June. The issue includes fresh share issuance of up to Rs 50 crore and an OFS of up to 1 crore equity shares by promoters. Proceeds from the IPO will be used for clearing off certain debts of the company, for financing capex requirements as well as for general corporate purposes.
KIMS Hospitals: Krishna Institute of Medical Sciences (KIMS), which is among the leading corporate healthcare entity operating in Andhra Pradesh and Telangana is likely to launch its Rs 800-crore IPO in June. General Atlantic i.e. an investor in the company will offload 1.39 crore shares and reduce its stake in the company which is currently at 41 percent. Through its public offer, the company plans a fresh issuance of shares worth Rs 200 crore and an OFS of up to 21,340,931 shares by promoters and investors.
Arohan Financial: Arohan Financial’s Rs 1,750-Rs 1,800 crore IPO is likely to open its issue in June 2021. Arohan Financial IPO will include a fresh issue up to Rs 850 crore. The company is likely to offer an OFS of 2,70,55,893 shares by different entities. The proceeds from the IPO shall be put to augment the company’s capital for financial future capital need
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